After the retest of a resistance zone of $225 ETH fell down to $137, regaining its positions in the light of a last days’ growth. Currently, it is testing the resistance zone of $225 again.
At the moment, technical analysis at ETH plays somewhat secondary role. Negative sentiment at ETH remains and just a couple of hours ago it was reported that Parity >1.5 multsig was vulnerable. More than 150,000 ETH has been stolen by black hat hackers with money evaporating from the famous ICOs such as Aeternity, Swarm City, Edgeless.
Needless to say that these factors will drive the market price, especially if any sign of the movement of the stolen funds to exchanges will be revealed.
That is why it is very likely we will see the tests of the support zone at $137. In turns, purchases from that level might in perspective yield good return.
Purchases when the price settles higher than $225 and retests it is also a reasonably good idea. However, one should remember that any bad news might tamper the investors’ confidence easily breaking the support zone, which will result in big price movements.
Currently, the most plausible scenario at ETH is to remain out of market anticipating how the price will react to the news.